Trecora Resources Announces CEO Succession Plan

SUGAR LAND, Texas, Feb. 26, 2015 /PRNewswire/ -- Trecora Resources (NYSE: TREC) a leading provider of high purity specialty chemicals and waxes and custom processing, today announced that Simon Upfill-Brown will be named Chief Executive Officer when Nick Carter steps down from that position in July 2015.  Mr. Carter will remain as Chairman of Trecora's Board of Directors, and will also enter into a three-year consulting agreement with the Company.  Mr. Upfill-Brown is currently the Company's Executive Vice President, and serves as President of the South Hampton Resources subsidiary.  He is also a member of the Trecora's Board of Directors.

"This management change has been planned for some time, and we felt it was appropriate to advise our customers, partners, and shareholders ahead of time in order to provide a smooth transition," said Mr. Carter. "Simon is a proven asset and has been instrumental in developing and executing our growth strategy. He also has a very capable executive management team working with him, and has the leadership ability to move the group and the Company to a new level of performance.  From an operating and financial standpoint Trecora is very well positioned, and I'm confident the Company will continue to build and expand shareholder value."  

Mr. Upfill-Brown has more than 20 years senior level experience in international management of coatings, chemicals and renewable resources. Prior to joining Trecora in 2012, he was President and CEO of Haltermann Inc., a North American provider of custom chemical manufacturing services to major chemical companies. Haltermann was a subsidiary of Ascot plc until its acquisition by The Dow Chemical Company in June 2001. As General Manager of Dow Haltermann from 2001 - 2008, Mr. Upfill-Brown successfully integrated operations in four countries from five different entities into the newly-formed $230 million global business unit that offered custom manufacturing services to the performance chemical industry.

Mr. Upfill-Brown was also CEO  of a venture-backed algae-to-fuels company spun out of MIT in 2001, and COO of a technology start-up focused on converting organic waste to hydrocarbon fuels. He holds undergraduate degrees in chemistry and mathematical statistics from Stellenbosch University, South Africa and an MBA from Stanford Graduate School of Business.

About Trecora Resources (TREC)
TREC owns and operates a facility located in southeast Texas, just north of Beaumont, which specializes in high purity hydrocarbons and other petrochemical manufacturing. TREC also owns and operates a leading manufacturer of specialty polyethylene waxes and provider of custom processing services located in the heart of the Petrochemical complex in Pasadena, Texas.  In addition, the Company is the original developer and a 35% owner of Al Masane Al Kobra Mining Co., a Saudi Arabian joint stock company. 

Forward-Looking Statements
Statements in this press release that are not historical facts are forward looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon our belief, as well as, assumptions made by and information currently available to us. Because such statements are based upon expectations as to future economic performance and are not statements of fact, actual results may differ from those projected. These risks, as well as others, are discussed in greater detail in Trecora Resources' filings with the Securities and Exchange Commission, including Trecora Resources' Annual Report on Form 10-K for the year ended December 31, 2013, and the Company's subsequent Quarterly Reports on Form 10-Q.  All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release.

Company Contact:
Nick Carter, President and Chief Executive Officer
(409) 385-8300
[email protected] 

Investor Relations Contact:
Glenn Garmont or Don Markley
The Piacente Group
212-481-2050
[email protected] 

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SOURCE Trecora Resources